Cobra's Market View

Well well, BOTs unleashed to run up all the short stops. Up up the ladder they went and collected.

Now, let's see what happens.

I would think they got into great short entry positions for the weekend fireworks.

If I am right, we just saw the HOD.

LOL I've been posting about the TVIX for a while now... it's been the instrument I've been trading the past months. Actually am out of it for now and have some long positions. I smell another bear trap- probably being overly risk averse but not playing TVIX until we break above the midpoint of the B...

Woah, got lucky earlier by taking profits on TVIX earlier and entering a "half-in" UPRO position. When the confirming bar on the bearish engulfing pattern got decimated when the SPY went positive, that was a signal that it may be a false pattern.

This thing is taking off. Holy smokes!

Big, juicy, bearish engulfing topping pattern. The confirmation red bar today is looking very ominous. Let's see what the bulls can do in the face of some dark clouds here. Never underestimate the imagination of the bulls. How's that bearish engulfing when it's not even a higher high, close lower c...

Big, juicy, bearish engulfing topping pattern.

The confirmation red bar today is looking very ominous.

Let's see what the bulls can do in the face of some dark clouds here. Never underestimate the imagination of the bulls.

Scariest last 5 minutes for the bulls here....

Anybody remember when I posted this? Now wouldn't that be the mother of all Pbars. A drop to 1170 ish would be consistent with that target. Hopefully we make it there and I will take profits for another great (and lucky?) trade. Still "all-in" TVIX despite the sympathy of some fellow membe...

Speechless, the top fisher got all the look of the top, but why? why? it's top guys, I can smell it. i wouldn't bet on it. take a look at a chart posted by another trader i follow. this is spx 1998. be careful bears ... http://objectivetrader.typepad.com/.a/6a014e5f6975b2970c0154361f4505970c-pi ......

i feel bad for the guy(forgot his name) that went all in on TVIX... good luck man I am not that guy, but what do you get from saying what you say? seriously. if you make money be happy, eat good, drink more, life is short, I am having a beer right now cheers. hey, where's my beer? :o yeah bro...no ...

The dollar is getting ready for its third wave up. It's approached 61.8% on the fib correction and should move to higher highs.

Things are lining up here, day by day.

Looky Looky what I saw on the TVIX... the mother of all PBARs?

Still fully deployed with TVIX at the moment.

Once again, big money selling into the close. Reminiscent of yesterday. Ignore this activity at your own peril. Big money unloading after spending the whole day dragging the price up to where they want to kick in the sell proggies. I expect more unloading to happen into the close here. Still holding...

well i imagine bears will have a harder time now. efsf was approved by slovaks. I believe that was baked into the equation. It might actually be a sell the news event because they now have to grapple with the fact that 400bill is not going to cut it and they need to lever up to a couple of trillion...

BullBear52x, we exactly on the same page.

My view of what's happening is that we won't fill that gap today and create an island reversal. The correction could go into another day or two into the island reversal's target of 1170-ish, which is precisely where I plan to take profits on TVIX.

Let's see if this pans out.

Added even more TVIX at the end of yesterday's session. VIX reversal panning out as anticipated- check out my chart. HOWEVER- this is a short term play for me. Once we start approaching the 1170s, I will start taking profits and prepare dry powder to go long. We are, after all, still in a JBTFD mode...

The sharks are cashing in at these price levels before the EOD here. This is a straight up, take-profit / sell program initiated near the close to rip the face off late bull-comers. Then, when we correct and everybody turns bearish again, they will do the same and launch their nasty buy programs ne...

The sharks are cashing in at these price levels before the EOD here. This is a straight up, take-profit / sell program initiated near the close to rip the face off late bull-comers. Then, when we correct and everybody turns bearish again, they will do the same and launch their nasty buy programs ne...

The sharks are cashing in at these price levels before the EOD here. This is a straight up, take-profit / sell program initiated near the close to rip the face off late bull-comers. Then, when we correct and everybody turns bearish again, they will do the same and launch their nasty buy programs nea...

... and cue turning on the sell program bots...

*poof* !!!!

Glad I bought my last bit of TVIX before the bots were let loose.

*note to self- take profits on TVIX and don't get too greedy once the correction takes us under 1200... we are after all, in a JBTFD mode in the intermediate term